Wecommerce Holdings Ltd.

The company will make forward-looking statements on the call today that are based on assumptions and therefore subject to risks and uncertainties that could cause actual results to differ materially from those projected. The company undertakes no obligation to update these statements except as required by law. You can read about these risks and uncertainties in the press release this afternoon, as well as in our filings on CDAR. Note that the adjusted financial measures we speak today are non-IFRS measures, which are not a substitute for IFRS financial measures. All amounts referenced in today's call are in Canadian dollars, unless otherwise stated. Good day and thank you for standing by. Welcome to the WeCommerce Q4 2020 Financial Results and Stamped Acquisition Conference Call. At this time, all participants are in a listen-only mode. After this previous presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. If you require any further assistance, please press star 0. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Mr. Chris Sparling. Please go ahead.

Thank you, operator. Good afternoon. As the operator said, my name is Chris Sparling, and I am the Chief Executive Officer of WeCommerce. Today, I am joined on this call by our President, Alex Pearson, and Evan Brown, our Chief Financial Officer. Earlier today, after the close of the market, we released our fourth quarter and fiscal 2020 results, which are now available on CDAR. I would also like to thank everyone for joining our inaugural analyst and investor call. Today, we're going to walk you through our year-end financial results and discuss our recent acquisition of Stamps, and then open the floor to questions. We'll begin with the financial review of the quarter. Evan?

Thank you, Chris, and good afternoon to everyone on the call. As the operator mentioned, we do report in Canadian dollars in all references to amounts on this call and in our published financial reports, unless otherwise stated are in Canadian dollars. So let's jump to the financial results. In the fourth quarter 2020, we generated consolidated revenues of $6.1 million, up 53% year-over-year. Net loss in the fourth quarter was $5.5 million compared to net loss of $300,000 in the prior period. The net loss during the quarter includes a one-time listing expense of $1.6 million incurred in connection with the reverse acquisition takeover that took place in December 2020. The fourth quarter also includes non-cash stock based compensation of $3.9 million relating to accelerated vesting of stock options. Excluding these expenses, net income for Q4 2020 would have been $30,000. The adjusted EBITDA for the fourth quarter amounted to $1.7 million compared to $700,000 in this prior period. For fiscal year end 2020, we generated consolidated revenues of $21.3 million, up 40% year over year. Net loss was $4.4 million compared to net income of $100,000 in the prior period. Excluding one-time expenses incurred in the fourth quarter, net income for fiscal 2020 would have been $1.1 million. Adjusted EBITDA for fiscal 2020 amounted to $6.3 million compared to $3.5 million in the prior year. So with that, I'll leave it there and pass it back to Chris.